How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam, Accountant
Category: Tax
Satisfied Customers: 14154
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
Type Your Tax Question Here...
Sam is online now

I am renovating a property I have bought can I claim vat on

Customer Question

I am renovating a property I have bought can I claim vat on the materials even if I am not vat registered
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer. I am afraid the answer is no - but then you can claim the full cost (so the net price plus VAT) against the profits made so do not lose out of the total costs spent. This is on the assumption that this is a trade venture rather than a personal one - and also that you have or plan to made a living out of renovation of property to sell on at a profit.If this is a one off renovation then the profits will fall under the capital gain regime and then only Capital improvements are permitted (so a total replacement of a kitchen, a bathroom, central heating etc) Let me know if I can be of any further assistance with this. Thanks Sam